Florida Attorney vs. Title Company Rule

😎 In Florida, the residential closing process involves multiple steps, and the roles of the closing attorney and title company are distinct but can overlap in some cases. Here’s an overview:

Closing Attorney's Role

  1. Legal Oversight: Attorneys provide legal advice to ensure the transaction complies with state and local laws.
  2. Document Preparation and Review: Attorneys draft and review key documents, including the purchase agreement, deed, and any seller or buyer obligations.
  3. Title Examination: The attorney ensures the property’s title is clear, with no liens or encumbrances, and prepares the title opinion if necessary.
  4. Facilitating Closing: The attorney oversees the closing process, ensuring all documents are signed and funds are disbursed according to the agreement.
  5. Representation: They represent either the buyer or the seller (but not both) and protect their client’s legal interests.

Title Company’s Role

  1. Title Search: The title company performs a detailed title search to confirm ownership and identify any title defects.
  2. Title Insurance: They issue title insurance policies to protect the buyer and lender against future claims on the property.
  3. Escrow Services: They manage the escrow account, holding funds until all conditions of the sale are met.
  4. Closing Coordination: The title company often coordinates the closing, ensuring documents and funds are appropriately handled.

Attorney vs. Title Company

  • In Florida, an attorney is not required to be involved in all residential closings, but many buyers and sellers choose to hire one for added legal assurance.
  • Title companies and attorneys are not the same. However, some attorneys operate their own title companies or provide title services, so they can perform dual roles in a transaction.

Key Takeaway

While title companies focus on title-related tasks and facilitating the transaction, attorneys offer legal expertise to safeguard the interests of their clients. You can involve either or both, depending on the complexity of the transaction and your preference for legal support.🌅

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